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Rupert Murdoch's Nightmare Scenario for Comcast

The puzzle is why Comcast didn't attempt to land a knock-out blow when it submitted a counterbid late on Wednesday. Comcast's 14.75 pounds a share offer is 5 percent more than the 14 pounds Murdoch's Twenty-First Century Fox Inc. put forward earlier the same day. The speed of the counter-attack may send a message – but the level, less than the 15 pounds Sky stock has been flirting with, is almost begging for its own retaliation.